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What amount should loch report in its december balance sheet

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Question - On January 2, 20X9, Loch Co. established a noncontributory defined benefit plan covering all employees and contributed $1,000,000 to the plan. At December 31, 20X9, Loch determined that the 20X9 service and interest costs on the plan were $620,000. The expected and the actual rate of return on plan assets for 20X9 was 10%. There are not other components of Loch's pension expense.

What amount should Loch report in its December 31, 20X9 balance sheet as prepaid pension cost?

a. $280,000

b. $380,000

c. $480,000

d. $620,000

Reference no: EM131806151

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